EXCLUSIVE: Sequoia Capital is opening a New York office, its first U.S. location outside Silicon Valley Read Now

Sequoia Capital, the Menlo Park, Calif.–based venture capital firm known for its early investments in Google and Instagram, plans to open an office in New York City, its first U.S. facility outside Silicon Valley, according to two people with direct knowledge of the matter.

The move by Sequoia, the most prominent tech startup investor, underscores a broader shift by venture capitalists to plant roots outside the San Francisco Bay Area following the pandemic-fueled boom in remote work, which spurred more founders to start companies in other regions and cities, including New York.